Stocks were hit by a double-shock of New York plunge and the Nikkei reshuffle. The New York tumble was already factored in, but the reshuffle will continue to hurt the market for the rest of the week.
The fact that Mori is selling the property for two to three times more than the prices of other properties in the area is really something and it seems to have captured everyone's attention.
Stability is somewhat returning to stocks, which took a hit earlier this week due to concerns that the Bank of Japan may raise interest rates earlier than previously thought.
The U.S. economy is trotting away from its soft patch, while Japan has begun to move away from its own. These movements show that fundamentals are strong.
Since the U.S. election ended with the expected Bush victory, the market's focus has moved to U.S. corporate earnings and monetary policy there.
The fact that there is internal conflict (at Sony) is hardly good for investors' trust.
Here, investors are looking ahead to the BOJ meeting and at the end of the week we'll be awaiting U.S. jobs data. With these factors ahead, I don't think stocks will be able to move much at all today.
The yen's rise and uncertainty over possible (dollar-supporting) intervention made players take a wait-and-see stance.
Share prices rose on the back of the gains on Wall Street overnight.
Share prices gained due to upbeat market sentiment.
